Apple: iPhone 4S Battery Fix on the Way

Apple has officially acknowledged that some users are experiencing issues with the iPhone 4S battery life. Fortunately, they've stated that it's an issue with software, and they're working on a fix. Expect an update within a few weeks.

Meanwhile, Apple has released an iOS 5.0.1 beta to developers, which tests their fix for battery life, as well as adding multitasking gestures to the original iPad, improving security, resolves iCloud bugs involving documents, and improves speech recognition for Australian users.

These fixes should be applied to iOS relatively soon, as long as developers don't experience any issues with the update.
via MacRumors 1 & 2